Business
Class action against Westpac over alleged collusion and ‘inflated interest’ car loans – The New Daily
Westpac says it will defend a class action that alleges it and St George Finance colluded with car dealers to charge customers inflated interest on loans.
Westpac says it will defend a class action that alleges the bank and St George Finance colluded with car dealers to charge customers inflated interest on loans.
Law firm Maurice Blackburn has not revealed how much money is being sought, but said it has filed papers in the Victorian Supreme Court that claim the banks allowed car dealers to hike the interest rates on car loans so they could earn hefty commissions.
Customers were not told of the arrangement, and were led to believe the rates were…
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